Changpeng Zhao, founder, and CEO of crypto exchange Binance is a rich and powerful man. There is no denying that. Building the most successful exchange from scratch in a highly competitive arena is no easy task. So how did he get that way? Well, with a little bit of luck and a whole of skill, you can find your way to the top as well. Here are some crypto strategy ideas to get you started.
CRYPTO STRATEGY: BE GOOD AT WHAT YOU DO
This might seem obvious to some but you’d be surprised how many startups don’t follow this crypto strategy. Changpeng Zhao is simply good at what he does. Don’t put half your effort into anything. Make sure your business strategy is solid and your team is good. Don’t lie to get ahead. If the product is high quality, then it will speak for itself.
CRYPTO STRATEGY: DO YOUR OWN RESEARCH
Again, another crypto strategy that should be more obvious. Unless you want to go throwing money away at useless projects that look good on the outside, you need to do research. Lift up the hood and dig deep. See if a project is of good value before investing.
CRYPTO STRATEGY: HEDGE YOUR PORTFOLIO
Sure, the crypto market is stable now but what happens if it tanks? Are you protected? Better yet, what happens if the market takes off in a bull run? Are you prepared? Hedging and overall preparing your portfolio for volatility is a very important crypto strategy. A good example of how to do this is through crypto lending platforms.
YouHodler is one of the best offering an industry best loan to value ratio of 80%, more collateral options (BTC, BCH, BSV, ETH, LTC, and XRP), debit/credit card/USDT payment and withdrawals and much more. By putting up your crypto as collateral, you can get a cash loan to hedge your portfolio. Invest in stable assets and high-quality altcoins. It’s a fantastic way to expand your reach without selling off your precious crypto.
Loans are usually seen as a last-ditch effort but all businesses use them and they’re a great way to get ahead of the competition if used correctly.